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Bristol-Myers Squibb Company

Drug Names(s): PYY 3-36

Description: PYY 3-36 (peptide tyrosine tyrosine 3-36) is a fragment of a gut hormone, PYY. PYY is secreted in response to a meal and both inhibits stomach motility and reduces appetite. PYY also reduces concentrations of ghrelin, a hormone that stimulates appetite.

Deal Structure: In December 2002, Amylin licensed patents, from Curis, relating to drugs targeting PYY.

Amylin and Bristol-Myers Squibb
Bristol-Myers Squibb and Amylin announced that Bristol-Myers Squibb will acquire Amylin for $31.00 per share in cash, pursuant to a cash tender offer and second step merger, or an aggregate purchase price of approximately $5.3 billion. The total value of the transaction, including Amylin's net debt and a contractual payment obligation to Eli Lilly & Company, together totaling about $1.7 billion, is approximately $7 billion. The acquisition has been unanimously approved by the boards of directors of Bristol-Myers Squibb and Amylin. The board of directors of Amylin has unanimously recommended that Amylin's stockholders tender their shares into the tender offer.

Under the terms of the definitive merger agreement between Bristol-Myers Squibb and Amylin, Bristol-Myers Squibb will commence a cash tender offer to purchase all of the outstanding shares of...See full deal structure in Biomedtracker

Partners: Curis, Inc.

AC162352 News

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